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OIG: FHFA Needs Stronger Oversight of Fannie’s Short Sale Eligibility Determinations

November 20, 2013
Charles Wisniowski
Fannie Mae estimated that it incurred losses from short sales of the 10,310 non-owner occupied properties for 2012 totaling some $953.5 million.
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Purchase Mortgages Expected to Account for 79% of Originations in 2015

November 20, 2013
Brandon Ivey
The purchase mortgage share of originations is expected to increase significantly, from 30 percent in 2012 to 79 percent in 2015, according to Freddie Mac.
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Ginnie Mae MBS Issuance Declines in Third Quarter, Wells Ranks First Again

November 20, 2013
George Brooks
Wells Fargo once again ranked first among issuers with a market share of 29.6 percent, followed by Chase Home Finance (12.1 percent), and U.S. Bank (3.8 percent).
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CFPB Grants 20-Month Implementation on New Mortgage Disclosure Rule

November 20, 2013
Thomas Ressler
The CFPB has come up with a new three-page loan estimate form ("Ficus") that must be given to borrowers within three business days after they submit a loan application.
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Rick Roque, VP of Retail, Resigns From Residential Finance Corp.

November 19, 2013
Paul Muolo
RFC is privately held. One of its top executives is Barry Habib, a well-known mortgage trainer who has worked at GMAC Mortgage and other shops during his career.
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Short Takes: Whatever Happened to Wells Fargo’s $40 Billion MSR Deal? / Freedom Hires Retail Chief to Head Expansion / Fear and Loathing in QM Land / Ugly Details on Castle & Cooke Settlement / Why Is It Taking JPM So Long to Settle?

November 19, 2013
Paul Muolo
The man heading the MSR sales effort for Wells Fargo is Brian Kunar, who carries the title of senior vice president of servicing sales.
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CFPB Mortgage Disclosure Forms and Rule Coming This Week?

November 19, 2013
Thomas Ressler
The Consumer Financial Protection Bureau had previously indicated that the industry could expect the rule sometime in September, then October, and now, sometime before year’s end.
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Another Due-Diligence Firm is on the Auction Block: Opus

November 19, 2013
Paul Muolo
Due-diligence firms, which had hoped to prosper with the return of non-agency jumbo lending, have shown little growth in the non-agency space during the second half of the year.
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Smaller Seller/Servicers Not Happy with Guaranty Fees

November 19, 2013
Paul Muolo
The exact g-fees charged to primary originators by Fannie Mae and Freddie Mac are one of the best kept secrets in the industry.
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Proprietary Loan Modifications Down Dramatically

November 19, 2013
Brandon Ivey
The decline in the use of proprietary loan mods also has outpaced a decline in foreclosure sales. Some 166,809 foreclosures were completed in the third quarter of 2013, down 2 percent from the first quarter of 2013.
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